"You can't cut down on cosmetics..." Which industry goes bankrupt as the economy is struggling? [Y Record]

■ Host: Kim Sun-young Anchor
■ Starring: Yeom Seung-hwan, director of LS Securities

* The text below may differ from the actual broadcast content, so please check the broadcast for more accurate information. Please specify [YTN NewsNOW] when quoting.

◇ Anchor> Amid sluggish domestic demand, the proportion of clothing among consumer spending in the third quarter fell sharply. Concerns are also growing that low growth could become entrenched. Let me analyze the economy. Yeom Seung-hwan, director of LS Securities, came out. Welcome. They say domestic demand is difficult, but they say they don't buy clothes these days. What kind of phenomenon should I look at this?

◆Yum Seung-hwan> First of all, we usually use durable goods and semi-durable goods, but in the case of durable goods, we usually use them for more than a year, and high-priced products and cars are typical, and semi-durable goods are clothes. Because we usually buy clothes and wear them for more than a year. But it's not an expensive product. Therefore, it would be good to think that one of the things that is sensitive to immediate consumption is clothing. So we can't cut back on food, food, and cosmetics, even if the economy is bad. But I won't buy clothes this year, but I can buy them next year.

◇Anchor> You can wear what you bought last year.

◆Yum Seung-hwan> As a result, I think there is a lot of anxiety about whether the economy is that bad right now and the economic experience is that bad, and whether it will improve in the future. In fact, the proportion of clothing and shoes in consumption expenditure in Korea was about 7-8% in the past, but it fell to 3.9 when it was announced this time. Instead, what's gone up is housing, water, heat spending, food, these are products that we have to spend anyway. As such, it seems that this indicator can also feel that Korea's domestic demand is changing due to recession-type consumption.

◇ Anchor> Domestic demand is not good or bad, but since you're in the economy, is there a real cold wind?

◆Yum Seung-hwan> I also work in Yeouido, so on weekends and weekdays... But I don't know what I've been feeling lately. I don't know if it's just me, but there aren't as many people in the restaurant as there used to be. I'm sure I gave it to you, but I don't feel good enough that the houses that were well-booked can go in without waiting. In particular, I've been thinking that self-employed people are being hit hard.



Excerpted from the conversation: Lee Mi-young, editor of the digital news team

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